This page was originally published on the 12th November 2008.
Regulated capitalism has failed
The short term opportunism inherent in Web 1.0 was not regulated by our institutions. Regulated capitalism failed to safeguard the communities long term interests in sustainability, solvency, individual retirement and peace. We have no choice but to make regulated capitalism work.
We have known about the problems for decades
All of our current problems have been known for years or decades. Short-term political or industrial opportunism simply deferred solutions into the future. Web 1.0 channels have sacrificed the community’s long term interests. More regulation will not solve the underlying defect in our organisational structures. Web 1.0 opaque channels allow individuals and countries to profit from a lack of transparency. Political and media channels have not provided this transparency.
Web 1.0 gave us the crisis! Web 1.0 strategies will not save us!
The world has reached crisis point. Governments seem to have responded with Web 1.0 strategies – encourage consumer spending, lowering interest rates, bailouts to failed or redundant enterprises, printing money. The outcomes of these actions result in more of the same – more debt, insolvency, inadequate retirement funding, misallocation of resources toward consumption rather than investment in the future. These are simply more short term fixes that exacerbate our long term problems. The status quo has either failed or is rendered redundant by Web 3.0. Too big to fail? Too Web 1.0 to let live! Too opportunistic to not let die! We should not waste resources on saving Web 1.0 – let it go!
We need a global Web 3.0 plan to accelerate the forces of creation
We need to apply global capital to accelerate creation, rather than prevent destruction. We can delay the forces of creative destruction, but we can not stop them. We need to replace our current social, industry and political structures with the inevitable Web 3.0 structures. The world needs a global plan of action. In the next few days, the G20 meet in the United States to create a new financial system (see Bretton Woods II- Roadmap Towards a New Financial System ). There is no agenda for the meeting. I hope the opportunity to accelerate creation is recognised, rather than the short term need to minimise destruction. Minimise destruction simply embeds the status quo of Web 1.0.
Al Gore recently highlighted the potential of the internet to transform the world, but it needed to be given a purpose he described as World 2.0.
Mr. Gore explained change cannot happen until we redesign and “re-architect” the context in which these activities take place – a place he calls World 2.0.
Five hundred years ago, explained Mr. Gore, the printing press revolutionized the public sphere. Before that there was a monopoly on information. With illiteracy affecting 99% of the people, information was filtered by the church, the monarchy, all economically, politically and spiritually concentrated; the print press brought radical change.
It empowered individuals to use knowledge as a source of influence and power and a new information ecosystem developed that allowed anyone who could learn to read and write to realize they could have a new sovereign – the rule of reason. According to Mr. Gore, this ability to connect, comprehend and make decisions independently matured into the American constitution.
Much like puppies, according to Mr. Gore, Web 2.0 has to have a purpose. The purpose he urges us to consider is to bring about a higher level of consciousness about our relationship with this planet.
“We have everything we need to save it, and in the process create millions of new jobs, reduce our national security exposure, and solve the climate crisis,” he said, but, “just as Barack Obama’s election would have been impossible without the new dialogue and new ways of interacting on the Web, the only way this is going to be solved is by addressing the democracy crisis.”“
But I believe technology is ushering in a new golden age for humankind. I also believe that technology is making the human side of the business equation—skills and knowledge—more valuable than ever. And I believe that societies that want to prosper in this new age need to cultivate a spirit of learning and flexibility and achievement.
So today I would like to talk with you about three subjects. First, why technology is a good thing despite the unsettling changes it brings. Second, in business terms, how technology is putting a greater premium on what is awkwardly called ‘human capital’. Finally, I want to say something about what all this means for Australia’s future.
The challenge is clear. But so is history. Each improvement in information technology we have seen in the past—beginning with Gutenberg’s press and continuing with radio and television—has opened up access to more news and entertainment for millions more people who previously couldn’t get or afford it. There is no reason to think the trend will be different this time. Except that this time, the access will be universal—and the impact will be more profound.
History also shows that with each new advance, existing businesses are forced to become more creative and relevant to their customers. Once upon a time, the media and entertainment companies could count on the huge, up-front investments that discouraged competitors from entering the business. But, in many sectors, the barriers to entry have never been lower—and the opportunities for the energetic and the creative have never been greater.“
Web 4.0 transforms the world with a critical mass of social, industry and political networks
Web 4.0 achieves a critical mass of participation in online networks that deliver global transparency, governance, distribution, participation, collaboration in industry, political and social networks and other key community endeavours. Web 4.0 delivers community sovereignty to channels and information. Global Web 1.0 channels were created over 100 years of mergers, acquisitions and organic growth. Global Web 3.0 online social, industry and political networks can be created within 12 months. The potential of achieving rapid economic development and industry innovation outcomes in a very short time frames is real.
Resistance to change
Web 1.0 channels were created over a hundred years. The transition to online networks could be delayed by 50 years with lobbying to protect Web 1.0 channels by private owners or countries protecting their individual interests with Free Trade agreements that embed a global system of intellectual property. Resistance to change is far from universal, but it may delay the inevitable and necessary change.
The people will build these networks?
Web 3.0 and Web 4.0 are economic development stages as peer to peer networks transform industry and political structures. They herald a return of community knowledge to the people and facilitate mass participation. Who should build these networks? Should these networks be community property or be owned by the private sector. Government would be the logical choice. However, government seems to be locked into Web 1.0. The people seem to be the only ones that can take the initiative. Fortunately, Web 2.0 social networking and the creation of Linux demonstrates the ability of large groups of people to focus on a common purpose and complete large engineering projects. Transforming the world is another engineering project that could be completed by an “open source” community. We plan to build some of these networks. We will also share our knowledge in an article How to build a Web 3.0 online network in 90 days with $25k and the project “Web 3.0 Online network solution” open source software project to kickstart your online network.
An interim step – transparency and global alignment now and restructuring later
Web 3.0 online networks could be created in 90 days and populated within 270 days. Individuals within Web 1.0 structures could make a commitment to champion the objectives of the Web 3.0 online network within their organisation. The two primary benefits of this approach could be immediate transparency and alignment of organisational objectives with a global objective without the need to restructure a Web 1.0 channel. The President of the World Bank recently said that a “facebook” of global government was required. I suspect he could see the transparency and strategy alignment benefits in the current situation. A global government facebook, global governance or edemocracy platform could be built in 12 weeks. Our one hundred year old Web 1.0 structures could then be restructured to deliver global community needs.